GMCR sells Filterfresh coffee service business
Green Mountain Coffee Roasters Inc. (GMCR), Waterbury, Vt., announced that Aramark Refreshment Services LLC, Philadelphia, will acquire the Van Houtte U.S. Coffee Service business, also known as Filterfresh, from GMCR for approximately $145 million.
The purchase price is subject to adjustment based on Filterfresh’s working capital and indebtedness as of immediately prior to the transaction’s closing.
GMCR acquired Van Houtte in December 2010 through the purchase of the outstanding capital stock of LJVH Holdings Inc. At the time of the acquisition, GMCR announced it would pursue a sale of a portion of the former Van Houtte business, namely the Filterfresh division, the company says.
“We believe there is a strong strategic fit between the Filterfresh business and Aramark and we look forward to continuing to work with Aramark as a valued distributor,” said Dave Manly, general manager of the Away from Home business for GMCR’s Keurig business unit, in a statement.
Through its Refreshment Services group, Aramark provides a wide range of food and beverage services, supplying more than 1 billion cups of coffee annually to business and industry clients worldwide, the company says.
“Aramark and Filterfresh are both leaders in providing excellent service and quality office coffee and other refreshments to employees in the workplace,” said Jonathan Peters, executive vice president of Aramark Refreshment Services, in a statement. “We look forward to satisfying even more customers through this new partnership.”
The acquisition agreement is subject to various closing conditions, including obtaining regulatory approval in the United States.